Privacy Act of 1974; Implementation, 44802 [2011-18959]
Download as PDF
<![CDATA[
44802
Federal Register / Vol. 76, No. 144 / Wednesday, July 27, 2011 / Rules and Regulations
credits are claimed on the original
return. An election, once made for any
taxable year, is irrevocable for that
taxable year.
(b) Controlled groups of corporations;
trades or businesses under common
control—(1) In general. A member of a
controlled group of corporations (within
the meaning of section 41(f)(5)), or a
trade or business which is treated as
being under common control with other
trades or businesses (within the
meaning of section 41(f)(1)(B)), may
make the election under section
280C(c)(3). However, only the common
parent (within the meaning of § 1.1502–
77(a)(1)(i)) of a consolidated group may
make the election on behalf of the
members of a consolidated group. A
member or trade or business shall make
the election on Form 6765 and by the
time prescribed in paragraph (a) of this
section.
(2) Example. The following example
illustrates an application of paragraph
(b) of this section:
Example. A, B, and C, all of which are
calendar year taxpayers, are members of a
controlled group of corporations (within the
meaning of section 41(f)(5)). A, B, and C each
attach a statement to the 2009 Form 6765,
‘‘Credit for Increasing Research Activities,’’
showing A and C had stand-alone entity
credits (within the meaning of § 1.41–6(c)(2))
that exceeded the group credit (within the
meaning of § 1.41–6(a)(3)(iv)). A and C report
their allocated portions of the group credit
(as determined under § 1.41–6(c)) on the
2009 Form 6765 and B reports no research
credit on the 2009 Form 6765. A and B, but
not C, each make an election for the reduced
credit on the 2009 Form 6765. In December
2010, A determines that it understated its
qualified research expenses in 2009 resulting
in the group credit exceeding the sum of the
stand-alone credits. On an amended 2009
Form 6765, A, B, and C each report their
allocated portions of the group credit
(including the excess group credit). B reports
its credit as a regular credit under section
41(a) and reduces the credit under section
280C(c)(3)(B). C may not reduce its credit
under section 280C(c)(3)(B) because C did
not make an election for the reduced credit
with its original return.
mstockstill on DSK4VPTVN1PROD with RULES
(c) Effective/applicability date. This
section applies to taxable years ending
on or after July 27, 2011.
Steven T. Miller,
Deputy Commissioner for Services and
Enforcement.
Approved: July 19, 2011.
Emily S. McMahon,
Acting Assistant Secretary of the Treasury
(Tax Policy).
[FR Doc. 2011–18993 Filed 7–26–11; 8:45 am]
BILLING CODE 4830–01–P
VerDate Mar<15>2010
16:06 Jul 26, 2011
Jkt 223001
DEPARTMENT OF THE TREASURY
Office of the Secretary
31 CFR Part 1
RIN 1505–AC27
Privacy Act of 1974; Implementation
Departmental Offices, Treasury.
Final rule.
AGENCY:
ACTION:
In accordance with the
requirements of the Privacy Act of 1974,
5 U.S.C. 552a, the Department of the
Treasury gives notice of an amendment
to update its Privacy Act regulations,
and to add an exemption from certain
provisions of the Privacy Act for a
system of records related to the Office
of Financial Stability (OFS).
DATES: Effective Date: July 27, 2011.
FOR FURTHER INFORMATION CONTACT:
Brian Bressman, Department of the
Treasury, 1500 Pennsylvania Avenue,
NW., Washington, DC 20220, at (202)
927–0419 (fax) or via electronic mail at
Brian.Bressman@Treasury.gov.
SUPPLEMENTARY INFORMATION: The
Departmental Offices published a
system of records notice on February 9,
2011, at 76 FR 7239, establishing a new
system of records entitled ‘‘Treasury/
DO.225—TARP Fraud Investigation
Information System.’’
On February 9, 2011, the Department
also published, at 75 FR 7121, a
proposed rule amending 31 CFR
1.36(g)(1)(i). The proposed rule
exempted the system of records from
provisions of the Privacy Act pursuant
to 5 U.S.C. 552a(k)(2).
The proposed rule requested that
public comments be submitted to OFS,
Department of the Treasury, 1500
Pennsylvania Avenue, NW.,
Washington, DC 20220. The Department
did not receive comments on the
proposed rule. Accordingly the
Department is hereby giving notice that
the system of records entitled
‘‘Treasury/DO.225—TARP Fraud
Investigation Information System’’ is
exempt from provisions of the Privacy
Act, pursuant to 5 U.S.C. 552a(k)(2) as
set forth in the proposed rule.
This final rule is not a ‘‘significant
regulatory action’’ under Executive
Order 12866.
Pursuant to the requirements of the
Regulatory Flexibility Act (RFA), 5
U.S.C. 601–612, it is hereby certified
that this rule will not have significant
economic impact on a substantial
number of small entities. This
certification is based on the fact that the
final rule affects individuals and not
small entities. The term ‘‘small entity’’
SUMMARY:
PO 00000
Frm 00042
Fmt 4700
Sfmt 9990
is defined to have the same meaning as
the terms ‘‘small business,’’ ‘‘small
organization,’’ and ‘‘small governmental
jurisdiction,’’ as defined in the RFA.
As authorized by 5 U.S.C. 553(d)(3),
the Department finds that good cause
exists for dispensing with the 30-day
delay in the effective date of this rule.
These regulations exempt certain
investigative records maintained by the
Department from notification, access,
and amendment of a record.
Accordingly, to protect the integrity of
the records system, the Department
finds that it is in the public interest to
make these regulations effective upon
publication.
List of Subjects in 31 CFR Part 1
Privacy.
Part 1, Subpart C of title 31 of the
Code of Federal Regulations is amended
as follows:
PART 1—[AMENDED]
1. The authority citation for part 1
continues to read as follows:
■
Authority: 5 U.S.C. 301 and 31 U.S.C. 321.
Subpart A also issued under 5 U.S.C. 552 as
amended. Subpart C also issued under 5
U.S.C. 552a.
2. Section 1.36 paragraph (g)(1)(i) is
amended by adding the following text to
the table in numerical order.
■
§ 1.36 Systems exempt in whole or in part
from provisions of 5 U.S.C. 552a and this
part.
*
*
(g) * *
(1) * *
(i) * *
*
*
*
*
*
Number
*
System name
*
DO.225 ....
*
*
*
*
*
TARP Fraud Investigation Information System.
*
*
*
*
*
*
*
*
*
Dated: May 9, 2011.
Melissa Hartman,
Deputy Assistant Secretary for Privacy,
Transparency and Records.
[FR Doc. 2011–18959 Filed 7–26–11; 8:45 am]
BILLING CODE 4810–25–P
E:\FR\FM\27JYR1.SGM
27JYR1
]]>Agencies
[Federal Register Volume 76, Number 144 (Wednesday, July 27, 2011)]
[Rules and Regulations]
[Page 44802]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-18959]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Secretary
31 CFR Part 1
RIN 1505-AC27
Privacy Act of 1974; Implementation
AGENCY: Departmental Offices, Treasury.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: In accordance with the requirements of the Privacy Act of
1974, 5 U.S.C. 552a, the Department of the Treasury gives notice of an
amendment to update its Privacy Act regulations, and to add an
exemption from certain provisions of the Privacy Act for a system of
records related to the Office of Financial Stability (OFS).
DATES: Effective Date: July 27, 2011.
FOR FURTHER INFORMATION CONTACT: Brian Bressman, Department of the
Treasury, 1500 Pennsylvania Avenue, NW., Washington, DC 20220, at (202)
927-0419 (fax) or via electronic mail at Brian.Bressman@Treasury.gov.
SUPPLEMENTARY INFORMATION: The Departmental Offices published a system
of records notice on February 9, 2011, at 76 FR 7239, establishing a
new system of records entitled ``Treasury/DO.225--TARP Fraud
Investigation Information System.''
On February 9, 2011, the Department also published, at 75 FR 7121,
a proposed rule amending 31 CFR 1.36(g)(1)(i). The proposed rule
exempted the system of records from provisions of the Privacy Act
pursuant to 5 U.S.C. 552a(k)(2).
The proposed rule requested that public comments be submitted to
OFS, Department of the Treasury, 1500 Pennsylvania Avenue, NW.,
Washington, DC 20220. The Department did not receive comments on the
proposed rule. Accordingly the Department is hereby giving notice that
the system of records entitled ``Treasury/DO.225--TARP Fraud
Investigation Information System'' is exempt from provisions of the
Privacy Act, pursuant to 5 U.S.C. 552a(k)(2) as set forth in the
proposed rule.
This final rule is not a ``significant regulatory action'' under
Executive Order 12866.
Pursuant to the requirements of the Regulatory Flexibility Act
(RFA), 5 U.S.C. 601-612, it is hereby certified that this rule will not
have significant economic impact on a substantial number of small
entities. This certification is based on the fact that the final rule
affects individuals and not small entities. The term ``small entity''
is defined to have the same meaning as the terms ``small business,''
``small organization,'' and ``small governmental jurisdiction,'' as
defined in the RFA.
As authorized by 5 U.S.C. 553(d)(3), the Department finds that good
cause exists for dispensing with the 30-day delay in the effective date
of this rule. These regulations exempt certain investigative records
maintained by the Department from notification, access, and amendment
of a record. Accordingly, to protect the integrity of the records
system, the Department finds that it is in the public interest to make
these regulations effective upon publication.
List of Subjects in 31 CFR Part 1
Privacy.
Part 1, Subpart C of title 31 of the Code of Federal Regulations is
amended as follows:
PART 1--[AMENDED]
0
1. The authority citation for part 1 continues to read as follows:
Authority: 5 U.S.C. 301 and 31 U.S.C. 321. Subpart A also issued
under 5 U.S.C. 552 as amended. Subpart C also issued under 5 U.S.C.
552a.
0
2. Section 1.36 paragraph (g)(1)(i) is amended by adding the following
text to the table in numerical order.
Sec. 1.36 Systems exempt in whole or in part from provisions of 5
U.S.C. 552a and this part.
* * * * *
(g) * * *
(1) * * *
(i) * * *
------------------------------------------------------------------------
Number System name
------------------------------------------------------------------------
* * * * *
DO.225............................ TARP Fraud Investigation Information
System.
* * * * *
------------------------------------------------------------------------
* * * * *
Dated: May 9, 2011.
Melissa Hartman,
Deputy Assistant Secretary for Privacy, Transparency and Records.
[FR Doc. 2011-18959 Filed 7-26-11; 8:45 am]
BILLING CODE 4810-25-P
